Part Exchange Explained
Part exchange your existing home for your dream home from Shropshire Homes. Available on selected plots and developments with no hassle, just a smooth move to your new home. Please speak to our Sales Executive on your chosen development for further information on availability.
Terms & Conditions
- Part exchange is only available on selected plots and developments.
- Valuation for part exchange will be based upon the price which two independent valuers believe your home would be likely to achieve in the current market.
- We will appoint two independent valuers to value your home on the basis of achieving a sale within 4 – 6 weeks.
- There will need to be at least a 30% differential between the price of your home and the Shropshire Homes plot you are interested in.
- We are under no obligation to make an offer but if we do, it will be valid for 5 working days. If the offer is not accepted within this timeframe, the offer may be withdrawn.
- An offer made by us under the part exchange scheme is subject to any necessary further enquiries or reports.
- If you have already incurred costs [eg estate agent or legal fees] at the time of negotiating a Part Exchange Shropshire Homes will not reimburse these costs.
- On completion of a home purchase by us under the part exchange scheme we will retain a £500 retention bond. This will be refunded to you provided your old property is left in an acceptable condition with any fixtures or fittings that have been removed are made good, all rubbish is removed and the property has been cleaned. We will also require accurate meter readings to be provided to your utility companies.
- You agree that no party is currently negotiating to purchase the property you are selling and that no introduction has already been made by any other party.
- Shropshire Homes will purchase your existing home and take legal title to it prior to selling it on to a third party, to allow you to purchase a new Shropshire Homes home. If you withdraw from the transaction and Shropshire Homes has found a prospective buyer for your home, Shropshire Homes will not make an introduction between you and the prospective buyer. If an introduction has already been made by Shropshire Homes or their agent you will be liable to pay a fee of £1,000 plus VAT to Shropshire Homes to reimburse costs incurred and Shropshire Homes will have no further involvement in facilitating the sale.
- Solicitors will ask that you complete the Property Information Questionnaire and Form (PIQ/PIF). As Shropshire Homes has no first-hand knowledge of your existing home the company will have to use these same PIF/PIQ forms for presentation to a subsequent purchaser for your existing home. You confirm that you will complete these forms accurately and acknowledge that a future purchaser will rely upon on your answers and that legal action may be taken against you if you are found to have given false information.